projectiondesign Announces Change in Ownership
Press Release from projectiondesign
5 October 2009, Fredrikstad, Norway – Norwegian high performance projector manufacturer, projectiondesign is capitalising on the growing global demand for high-quality products as well as partner support with the announcement of a change in ownership to include Norwegian private equity firm Herkules Capital AS.
The move follows the purchase of a 54% share in projectiondesign from previous main shareholder, Eker Group AS headed by top Norwegian Industrial Designer Bård Eker.
projectiondesign has emerged as an industry leader in the creation, development, design and manufacture of high-quality projectors for specialist professional, industrial and private sector applications. The company currently has 135 employees, including in-house product testing, research & development in electronic, optical and mechanical system design, and has shown strong growth since being established in 2001.
"projectiondesign is an exciting growth company, and is an attractive opportunity for Herkules. We have been familiar with the company for some time now and believe that there are good opportunities for organic growth in all parts of the world." says partner of Herkules Capital, Tore Rynning-Nielsen. "projectiondesign’s technical expertise is world class, the goal now is to expand the application areas and products and really focus on supporting and expanding their customer base."
Jørn Eriksen, President & CEO at projectiondesign adds, “We are proud to announce this change in ownership, which will fuel the acceleration of our already enviable business performance. We intend on staying sharply focused on executing the release of some of the world’s most exciting market-specific display products that will continue to delight our current and new customers and partners internationally.”
About projectiondesign projectiondesign is a Norwegian company that designs, manufactures and markets a range of high performance projectors for professional, business and consumer applications. Amongst its core markets are high resolution scientific visualization and simulation, medical imaging, e-cinema and public displays. Numerous industry milestones that distinguish projectiondesigns award winning, innovative technology include the introduction of the world’s first single-chip SXGA DLP projector in 2002, the first commercially available 1080p DLP projector in 2006 and the first WUXGA DLP projector and the first portable and high-resolution active 3D stereoscopic projector in 2008. In 2009, projectiondesign made its first foray into LED illumination. The entire professional product range is warranted for 24/7 usage. projectiondesign is based in Fredrikstad (Norway), and has offices in Gothenburg, Singapore, Milan, Stuttgart, Bilbao, Bombay, Cape Town, London and has representation in New York.